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View Diary: A little history about Social Security cuts and other changes (92 comments)

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  •  There are different kinds of insurance (1+ / 0-)
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    Social Security pays both disability income (SSI) and old-age pensions.  Also survivors' benefits to spouses and children.  All 3 are definitely insurance.  Health care insurance pays the costs of health care.  Health care can be treatment for trauma or disease, but also preventive care to prevent disease, and diagnostic mechanisms to identify the cause of disease and see how treatment is working.

    Insurance Simply means a system you pay into that spreads the risk and provides a pool from which people who have claims can be paid.  You are paid according to need in insurance schemes.  Social Security pays a minimum that is based on need and eligibility, and more up to a point if you paid in more.  You get it as long as you need it, that is, until you die, and then eligible beneficiaries get something until they die.  Some people collect way more than they pay in; others never get close to what they paid in, and some never collect at all, although often beneficiaries get something.

    I don't understand your distinction.  All safety net programs provide help when people can't care for themselves whether by accident, old age or poverty.  SS and Medicare and unemployment insurance have dedicated revenue streams, some like black lung benefits are financed by the offending industry, but some are financed by general taxes, the ultimate socialization of costs.

    The scientific uncertainty doesn't mean that climate change isn't actually happening.

    by Mimikatz on Sat Apr 13, 2013 at 01:30:28 PM PDT

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    •  Social Security pays its own way (0+ / 0-)

      I dislike seeing everything we care about lumped together in the category  discretionary spending and entitlements when social security is an insurance program which pays its own way through payroll taxes and surcharges to create a trust fund which regularly gets raided to take spending on other things off the books.

      You can easily make distinctions between entitlements, insurances, safety nets, discretionary spending and investments and I think we ought to do that.

      With all the talk about austerity and cuts we are being preempted from discussing much needed investments in a higher minimum wage, education, infrastructure, safety nets and healthcare that long term save us money by keeping more of us employable and paying higher taxes longer

      Live Free or Die --- Investigate, Incarcerate

      by rktect on Sat Apr 13, 2013 at 02:51:19 PM PDT

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